Anthony

Chan

Frauds

Criminal and Civil Implications

Anthony Chan (also known by his real name, Wing Yuen Chan) has committed numerous criminal offences under English law, Hong Kong law and under the law of many other jurisdictions where his victims are based.

 

In English law, for example, he has committed an offence under Section 2 of the Fraud Act 2006 which makes it a fraud if the perpetrator: (1) makes any representation as to fact or law, express or implied, which he knows to be untrue or misleading; (2) does so dishonestly; and (3) does so with the intent to make a gain for himself or inflict loss, or a risk of loss, on another.

 

Under Section 16A of the Hong Kong Fraud Ordinance: "(1) If any person by any deceit (whether or not the deceit is the sole or main inducement) and with intent to defraud induces another person to commit an act or make an omission, which results either: (a) in benefit to any person other than the second-mentioned person; or (b) in prejudice or a substantial risk of prejudice to any person other than the first-mentioned person, the first-mentioned person commits the offence of fraud and is liable on conviction upon indictment to imprisonment for 14 years"

 

Under English law, the victims of Anthony Chan’s frauds are entitled to bring private criminal prosecutions against him. Private criminal prosecutions are becoming increasingly useful in cases of financial fraud such as the Anthony Chan frauds.

 

The victims of Anthony Chan’s frauds are also entitled to institute proceedings against Anthony Chan for civil fraud in the English and Hong Kong courts and to obtain a Worldwide Freezing Order against his assets. Several of the victims of Anthony Chan’s frauds have already engaged lawyers and are preparing civil fraud litigation against him.

 

The victims may wish to combine forces and bring a “representative action” (the equivalent of a US “class action”) against Anthony Chan in the English High Court.

 

Victims of Anthony Chan’s frauds should consider approaching his trustee in bankruptcy – Zolfo & Cooper (now Kroll) – given that many of his fake investment commitments were made during the four year period while Anthony Chan was an undischarged bankrupt owing his creditors over HKD 50 million. During his four year bankruptcy, while Anthony was telling his victims that he had at least USD 50 million in his bank accounts at Rabobank and ABN Amro in Holland, he was telling his trustee in bankruptcy that he had no monies or other assets to pay off the HKD 50 million that he owed to his creditors.

 

Anthony has committed the following criminal offences under Sections 131, 43A and 129(1) of the Hong Kong Bankruptcy Ordinance (borrowing money without informing the lender that he was an undischarged bankrupt and failing to report all his assets and income to his trustee in bankruptcy) and under Section 480(1) of the Companies Ordinance (acting as a shadow director and being “concerned in the management” of companies without the prior approval of the Court (for example Goldenway, HuangJinLu, JinWoLu, Malvernrose, Gretchen, Nitin, AAD Ventures and at least four other companies where he handed out business cards as the “Head of M&A” or "Chief Procurement Officer")